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February 14, 2005

Social Security Privatization

(broadcast stream ) (.wma download)

Guest: Economist Bill Spriggs, Senior Fellow at the Economic Policy Institute and former Executive Director of the National Urban League Institute for Opportunity and Equality

Does our current Social Security system work?
What exactly does the Bush Plan do to change it?
How much will it cost?
How much will YOUR benefits be cut?

This show will be televised on Channel 10 in Northern Virginia.



Comments


It is yet another plan to benefit the very rich.
How much can a minimum wage person aford to invest in the stock market? Rich people can buy into any kind of retirement plan they want. If the poor person can invest anything he will need to take it out when he/she gets sick or car brakes down. Everything with these guys is a plan to give more to the rich.

Posted by: Dr. A. Adler at February 12, 2005 8:16 AM

A former banker recently told me that it doesn't make sense to invest directly into the stock market unless you have more than a million dollars to play with since probability predicts that the commission charges will wipe out any profits. Guess what Wall Street is salavating about with the so called SS reforms: the commissions. Does Mark's guest agree?

Posted by: Skip at February 13, 2005 5:47 PM


Clearly this is one of the most blatant of this Bush Administrations attempts to harm the normal citizen to benefit his base (the very, very rich). Why is not everyone here on this blog, speaking to a present day effort on the part of high placed thiefs to shaft the citizens in a truly devistating fassion. This is a pending issue today and perhaps something that we can do something about.

Posted by: Dave G. at February 14, 2005 8:47 AM

I want to thank your guest Mr. Spriggs for putting some very complex issues into focus for the rest of us.
That being said I have a request. Mark, I believe Peter Orszag is your Brookings Institute avatar. Is there any way to get him to call in or better yet have him as a guest on the show. You've had some really impressive guests and I think he would be very useful for your listeners if they haven't heard him on C-SPAN already. That guy has this Social Security issue down!
Thanks for another great show,
RM NYC

Posted by: RM NYC at February 14, 2005 3:12 PM


People investing in their corporate special interests. They get to charge fees. Presently employers have to match the SS funds which they deduct from their employees. Would that be one more thing that they would no longer have to do?

Posted by: Dave G. at February 14, 2005 3:15 PM


At the very least would this not add more to the increasing pool of those struggling and willing to continue for survival leval incomes?

What a truly greedy group that has stolen our White House.

Posted by: Dave G. at February 14, 2005 3:20 PM

Do you think there is a more sinister reason Congressional Democrats are mum on these glaring contradictions in Bush's boondoggle. Perhaps, they are protecting their commitee appointments and/or access to the WhiteHouse.
I am cautiously optimistic that Howard Dean will be able to drag the party (kicking and screaming if necessary) to the place they need to be (ie. on the floor pointing out the things you are talking about).
RM NYC

Posted by: RM NYC at February 14, 2005 3:49 PM

What GWB is saying is: "Screw the people, they didn't vote for me anyway."

Posted by: Dr. A. Adler at February 14, 2005 3:59 PM

Why would any thinking American trust the Bush regime with the track record they have had so far in their administration. This is an attempt to discredit any democrat social program that benefits the poor and middle class put into place by Roosevelt whom they hated and because it works to well and raises the standard of living in the class system. Our population has not seen beggers in the street such as we had back in the twenties and thirties. The poor and lame selling pencils on a street corner etc..so we forget it seems.
I no longer trust this regime to have the benefit of the working class in mind on any of their plans they put forth. It has proven out that special interest and corporations are are calling the tune these guys dance to and they certainly care little for the working man or woman.

Posted by: madfuq at February 14, 2005 4:02 PM

We need to realize that Social Security is not meant to be a retirement plan. Social Security is and was meant to be a supplement to retirement and a safety net in the case that one's retirement plan failed. The Social Security system is one that works and is as efficient as any program can be. Social Security has never missed a payment and has an operating cost of around 1%. Social Security also provides for those who through what ever tragic events or circumstances are not able to provide for the basics needed to live. People who are paralyzed, blinded, widows and orphaned children. People who wish to change this successful system are self serving and centered on greed and they put their greed ahead of the well being of the country. These people would rather see children starve and let the elderly fall in to poverty just so they can pocket a few extra dollars. I guess that's the new moral values the hold. Greed, the new moral value.
The only change needed to the Social Security program is lifting the income cap. Social Security has taken in a surplus for years. Where is this surplus? This Surplus would've offset the shortfall that Social Security faces, that is until our elected officials dipped their greedy little hands in to it to offset thier failed economic and budget policies.

Posted by: RikAtomika at February 15, 2005 1:18 PM

Nathan,

Did you get a chance to listen to this show? If so, I'd like to hear your response to it.

Good show Mark. Enjoyed listening to it and think I have a better understanding of what is going on with this issue.

Posted by: Vicky at February 15, 2005 4:55 PM

RickAutomike'

You speak well to the character of those who have ploped themselves down in our White House, through whatever means. It is clearly their purpose to screw over the people to benefit those already ladened down with wealth.

George Bush, I think, is angry with us because he got so few votes and had to rely so heavily on the e-voting machines.

Posted by: Dave G. at February 19, 2005 11:29 AM


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